Oct 13, 2010 07:00 ET
Allana Potash Corp. Announces First Analyst Tour of Its Ethiopian Potash Project
TORONTO, ONTARIO--(Marketwire - Oct. 13, 2010) - Allana Potash Corp. (TSX VENTUTRE:AAA)("Allana" or the "Company"), is pleased to announce that the Companyhas organized the first analyst tour for a number of mining andfertilizer analysts as well as investment fund managers of itsexploration project in the Danakhil Depression, Ethiopia. The groupalso conducted meetings with top government officials in Addis Ababa,the capital city of Ethiopia.
Mining and fertilizeranalysts from Wellington West, Dundee Securities, Cormark, SalmanPartners and Fraser MacKenzie along with a number of fund managers,toured Allana's ongoing exploration project in the DanakhilDepression. The analysts reviewed drill core from Allana's fourcompleted holes on the project as well as the new camp expansion toaccommodate additional crew for the seismic program. The group visitedongoing drilling at holes DK-10-05 and DK-10-06 in the centre of theevaporite basin and observed ongoing seismic optimization studies withvibreseis units and road construction to improve access to the centreof the basin.
The analysts also met with HisExcellency, the President of Ethiopia, Honourable Minister of Mines andEnergy, and Honourable Minister of Transport and Telecommunications todiscuss infrastructure development initiatives in Ethiopia andspecifically near Allana's potash project, as well as generalinvestment climate in the mining sector in Ethiopia. The governmentconfirmed a published report on a railway construction initiative aimedat linking Addis Ababa to Djibouti and to developing a northern railline close to Allana's potash project. In addition, road crews havebegun preparations to pave the main project access road between thevillage of Hamadela (adjacent to Allana's camp) and the regional centreof Mekele greatly improving access to the project area. The Ethiopiangovernment officials expressed their continuing full support toAllana's potash exploration project and pledged maximum assistance withongoing infrastructure development.
Farhad Abasov,President and CEO of Allana Potash, stated: "We are very excited tohave completed the first analyst tour of our potash project inEthiopia. We are thankful to the analysts and fund managers who haveshown a strong interest in our project. The group had a chance towitness Allana's progress on our project first hand including improvedroad infrastructure, existing drill holes, ongoing drilling and seismicprograms and excellent, state-of-the-art conditions of our field camp.We express our sincere gratitude to the Government of Ethiopia fortheir continuous support to Allana's potash project."
About Allana Potash Corp.
Allanais a publicly traded corporation with a focus on the acquisition anddevelopment of potash assets internationally with its major focus on apreviously explored potash property in Ethiopia with Inferred MineralResource of over 100 million tonnes of potash mineralization (Sylviteand Kainite) with a composite grade of 20.8 % KCl (see News ReleaseSept. 17, 2008). Allana has approximately 118.5 million sharesoutstanding and trades on the TSX-Venture exchange under the symbol"AAA".
Peter J. MacLean, Ph.D., P. Geo., Allana'sSenior VP Exploration, is a Qualified Person as defined under NationalInstrument 43-101 and has reviewed and approved the technicalinformation presented in this release
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